DIRS.INFO The most relevant business & tech news

Elliott Management said Tuesday it will call a special meeting at Southwest Airlines "as soon as next week," shortly after the company put forward a sweeping board shakeup that it hoped might stave off a proxy fight. The push comes days before the airline's investor meeting, where it is expected to unveil improvements and operating changes. Southwest's shareholder meeting is typically scheduled for May, but by calling for a special meeting Elliott is looking to elect new directors much sooner than that. Earlier this month, executive chairman and former CEO Gary Kelly said he would step down after the carrier's shareholder meeting next year. "The need for change is urgent, and our request for a special meeting may come as soon as next week," Pike and Xu said.

Persons: Elliott, Bob Jordan, Gary Kelly, John Pike, Bobby Xu, Pike, Xu, Andrew Watterson, Robert Jordan Organizations: Elliott Management, Southwest Airlines, Airlines, Aircraft Mechanics Fraternal Association

☆ Southwest Airlines tells staff ‘difficult decisions' ahead in push to boost profits
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

Southwest Airlines has warned employees that it will have to make “difficult decisions” ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company. Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights. We also have to change our network,” Watterson said in the video, a transcript of which was seen by CNBC. Southwest did not immediately comment on the staff message.

Persons: Andrew Watterson, “, ” Watterson, Elliott, Gary Kelly Organizations: Southwest Airlines, Elliott Investment Management, Google, CNBC, JetBlue, Southwest, Wing Locations: It’s, Dallas

☆ World War II Airman’s Remains Identified After 79 Years
▼ + stars: | 2024-09-23 | by ( Amanda Holpuch | More About Amanda Holpuch | ) www.nytimes.com time to read: +1 min

The same day that Jenevieve Judd gave birth to her son, John Elliott, in October 1944, she received a crushing telegram from the U.S. military informing her that her husband had gone missing while serving in World War II. Mr. Elliott, now 79, said that his mother had told him that she had been so affected by the news of his father’s disappearance that it made labor more difficult, possibly causing Mr. Elliott to spend the first week of his life in an oxygen tank after being born purple. Over the years, Ms. Judd told her son extremely little about her missing husband, who remained unaccounted for until May of this year. John A. Tarbert of the Air Force was killed at 24 after his plane was attacked while flying over Germany 80 years ago this Friday. “I’m a low-key kind of a guy, and the excitement is just beginning to kind of swell up inside me,” Mr. Elliott said in an interview on Monday.

Persons: Jenevieve Judd, John Elliott, Elliott, Judd, John A, “, ” Mr Organizations: U.S, The Defense Department, Air Force Locations: Germany

☆ Southwest Airlines tells staff 'difficult decisions' ahead in push to boost profits
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Southwest Airlines has warned employees that it will have to make "difficult decisions" ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company. Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights. We also have to change our network," Watterson said in the video, a transcript of which was seen by CNBC. Southwest did not immediately comment on the staff message.

Persons: Andrew Watterson, Watterson, Elliott, Gary Kelly Organizations: Southwest Airlines, Elliott Investment Management, Google, CNBC, JetBlue, Southwest, Wing Locations: It's, Dallas

☆ Nike's challenges are quite similar to what we're seeing at Starbucks, says Peter Atwater
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNike's challenges are quite similar to what we're seeing at Starbucks, says Peter AtwaterPeter Atwater, William & Mary behavioral economist and ‘The Confidence Map’ author, joins 'Squawk Box' to discuss the ouster of Nike CEO John Donahoe, the challenges facing new CEO Elliott Hill, and more.

Persons: Peter Atwater Peter Atwater, William, Mary, John Donahoe, Elliott Hill Organizations: Nike

☆ Insider Today: Nike's airball
▼ + stars: | 2024-09-22 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. I'll be here on the weekend to break down some of the biggest stories in business and help you get ahead. The Oregon-based company last week announced Elliott Hill would return to the company as CEO, replacing John Donahue. AdvertisementAn internal "Frequently Asked Questions" document, obtained by Business Insider, outlined how the RTO plan will work.

Persons: —, Matt Turner, Donald Trump, There's, It's, it's, Elliott Hill, John Donahue, Dre Waltizer, Jeff Chiu, Alyssa Powell, Larry, Wayne Osborne, Osborne, Wayne, Andy Jassy, David X Prutting, Paul Porter, Rebecca Zisser, Alexander brothers, Oren, Alon, Tal Alexander, iStock, — Mark Zuckerberg, Taylor Swift Organizations: Service, Fed, Nike, Business, Investors, Google Locations: China, The Oregon

☆ Before having kids, I thought light-up shoes were tacky. Now that I'm a mom, I get it.
▼ + stars: | 2024-09-22 | by ( Elliott Harrell | ) www.businessinsider.com time to read: +4 min

Before kids, I couldn't figure out why parents would buy light up shoes or character clothing for their children. I was not prepared for the joy character items bring my daughterMy daughter loves clothes and gets excited when any new item gets delivered. But the day her new Ariel bathing suit arrived was a level of excitement that I've never seen before. A few months before the Ariel bathing suit, we were in Target. It's why I subsequently sought out an Ariel bathing suit because I knew it would make her over the moon.

Persons: —, Mary Jane shoes, Elsa, Peppa, Ariel, I'd, I've, animatedly, it's Organizations: Service, Business Locations: Target

The largest single-contributor donations went to MAGA Inc., the super PAC backing Trump, with Wisconsin roofing billionaire Diane Hendricks, a prolific GOP megadonor, giving $10 million to the group. On the Democratic side, tech entrepreneurs were the biggest donors to FF PAC, also known as Future Forward, a super PAC backing Harris’ presidential bid. Moskovitz donated $3 million to FF PAC, while Hastings, Jeff Lawson and Erica Lawson each gave $1 million. Super PACs like FF PAC and MAGA Inc. are havens for prolific political megadonors like Hendricks, Lutnick and Hastings because, unlike campaigns and their affiliated committees, super PACs don’t have limits on how much individuals can donate. Yass and Uihlein are both major GOP megadonors who have given to Club for Growth and other conservative groups for multiple election cycles.

Persons: Kamala Harris, Donald Trump, Diane Hendricks, Howard Lutnick, Cantor Fitzgerald, Paul Singer, Annette Caldwell Simmons, Harold Simmons, Warren Stephens, Harris, Leon Neal, Dustin Moskovitz, Reed Hastings, Twilio, Jeff Lawson, Erica, Moskovitz, Erica Lawson, Hastings, Joe Biden, Hendricks, Jeff Yass, Richard Uihlein, Amos Hostetter Jr Organizations: Democrats, Republicans, Federal, MAGA Inc, PAC, Trump, GOP, Elliott Management, Stephens Inc, Democratic, FF PAC, Facebook, Netflix, Growth, Susquehanna International Group, for Growth, House, Congress, Continental Cablevision Locations: Wisconsin, Hastings, Lutnick, Yass, Uihlein

☆ 401(k) savers can access one of the 'rare guarantees' in investing, CFP says
▼ + stars: | 2024-09-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Yet, according to financial advisors, there is an outlier in the realm of investing: the 401(k) match. The basic concept of a 401(k) match is that an employer will make a matching contribution on workers' retirement savings, up to a cap. In this example — a dollar-for-dollar match up to 3% — the investor would be doubling their money, the equivalent of a 100% profit. "If you were in Vegas and every time you put $1 in [the slot machine] you got $2 out, you'd probably be sitting at that slot machine for a mighty long time," said Elliott, a member of CNBC's Advisor Council. However, that money can come with certain requirements like a minimum worker tenure, more formally known as a "vesting" schedule.

Persons: Kamila Elliott, you'd, Elliott Organizations: Collective Wealth Partners Locations: Atlanta, Vegas

☆ Nike is a brand that's lost its way 'but can be resurrected', says Barclays' Adrienne Yih
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNike is a brand that's lost its way 'but can be resurrected', says Barclays' Adrienne YihAdrienne Yih, Barclays U.S. retail senior analyst, joins 'Squawk Box' to discuss news of Nike CEO John Donahoe stepping down, what incoming CEO Elliott Hill will bring to the company, what the move means for the future of Nike, and more.

Persons: Adrienne Yih Adrienne Yih, John Donahoe, Elliott Hill Organizations: Nike, Barclays, Barclays U.S

☆ Stocks making the biggest moves midday: FedEx, Nike, Constellation Energy and more
▼ + stars: | 2024-09-20 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Constellation Energy – Shares surged more than 17% after the company announced plans to restart the Three Mile Island nuclear plant and sell that power to Microsoft to satisfy the energy needs of its data centers. ASML – The semiconductor stock slid 3.4% in the wake of a Morgan Stanley downgrade to equal weight from overweight. Morgan Stanley said the risk-to-reward ratio has been "balancing." Centessa Pharmaceuticals – The biotech stock rose more than 4% after Morgan Stanley upgraded it to overweight from equal weight. Valero Energy – The energy stock declined nearly 3% after a Piper Sandler downgrade to neutral from an overweight rating, citing "less room for outperformance."

Persons: Raj Subramaniam, Elliott Hill, John Danahoe, Eli Lilly's orforglipron, Eli Lilly, Vistra, it's, Donald Trump, Lennar, ASML, Morgan Stanley, Piper Sandler, Buddy Chester, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: FedEx, Nike, Constellation Energy, Microsoft, Novo Nordisk –, Deutsche Bank, Corbus Pharmaceuticals, Novo Nordisk's, Viking Therapeutics, Vision, Trump Media & Technology, Pharmaceuticals, Valero Energy Locations: Novo, Texas

☆ Stocks making the biggest moves premarket: FedEx, Chewy, Trump Media and more
▼ + stars: | 2024-09-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Lennar — The homebuilding stock slipped 3% despite beating analysts' expectations for its fiscal third quarter. Trump Media & Technology Group — Shares traded nearly 5% lower as selling restrictions on former President Donald Trump and other early investors ended. PepsiCo — The snacks and beverage stock slipped 1% following a downgrade at Morgan Stanley to equal weight from overweight. ASML — Shares slipped 2% after Morgan Stanley downgraded the semiconductor manufacturer to equal weight from overweight. Aptiv — Shares of the automobile technology supplier rose more than 1% after an upgrade to overweight from equal weight at Wells Fargo.

Persons: John Donahue, Elliott Hill, Lennar, LSEG, Donald Trump, MillerKnoll, Tesla, Morgan Stanley, Lee Simpson, Piper Sandler, Chewy, Buddy Chester, CNBC's Michelle Fox, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nike —, FedEx —, Trump Media & Technology, —, Constellation Energy, Microsoft, — Auto, Mercedes, General Motors, PepsiCo, Contessa Pharmaceuticals, Valero Energy Locations: China, Wells Fargo

☆ Nike's incoming CEO will make $27 million — over $2 million less than his predecessor
▼ + stars: | 2024-09-20 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Nike veteran Elliott Hill is returning to lead the company as its CEO, replacing John Donahoe. The company offered Hill $27 million in compensation, $2 million less than Donahoe's 2023 earnings. Go to newsletter preferences Thanks for signing up! AdvertisementNike has found a new leader, but they'll be paying him more than $2 million less than the salary of the company's outgoing CEO. On Thursday, the sports giant announced that Elliott Hill, a company veteran, will take over outgoing CEO John Donahoe on October 14.

Persons: Elliott Hill, John Donahoe, —, they'll Organizations: Nike, Hill, Service, Securities and Exchange, Business

☆ Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewNike's incoming CEO is an old face in the company, having worked his way up the ranks from intern to C-Suite exec. He's set to take over Nike's outgoing CEO, John Donahoe, who has led the company since 2020. This story is available exclusively to Business Insider subscribers. According to Hill's biography, which Nike shared with BI, he started in the company as an apparel sales representative intern in 1988. AdvertisementNike representatives did not respond to a request for comment from Business Insider sent outside business hours.

Persons: —, Elliott Hill, He's, John Donahoe, Hill's, Hill, I'm, I've, Tom Peddie, Peddie, Locker, David Daniels, Daniels, Peter Cappelli, Cappelli, Elliot Hill, he's, Justin Sullivan, Jim Duffy, BI's Lloyd Lee, Duffy, they've, Ursula Burns, Burns Organizations: Service, Business, Nike, BI, NIKE, — Consumer, National University of Singapore, Wharton School, University of Pennsylvania, Stifel, Xerox, Columbia University, Business Insider

☆ Analysts say don't chase Nike pop on new CEO: 'There are probably no quick fixes'
▼ + stars: | 2024-09-20 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Nike's CEO is stepping down, and some on Wall Street appear to be lukewarm about the news. On Thursday after the bell, the sneaker giant announced that CEO John Donahoe will be retiring on Oct. 13. Wells Fargo maintained its overweight rating and increased its target by $9 to $95, implying more than 17% upside ahead. "We expect multiple expansion commensurate with Hill's hire — as leadership has been a large point of contention and controversy surrounding the stock," analyst Ike Boruchow wrote in a note. Bernstein, which has an outperform rating on Nike, expects the turnaround "will take time," but said market sentiment will be sympathetic.

Persons: John Donahoe, Elliott Hill, Jay Sole, Sole, Morgan Stanley, Alex Straton, Straton, Wells Fargo, —, Ike Boruchow, Bernstein, Aneesha Sherman Organizations: UBS, Nike, JD, Bank of America Locations: FL

☆ It's a tough time in retail — and CEO heads keep rolling
▼ + stars: | 2024-09-20 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

More retail bosses have walked the plank post-pandemic, with boards demanding better performance. Being CEO of a retail company is not an easy job right now. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJohn Donahoe is the latest retail CEO to hit the chopping block.

Persons: —, John Donahoe, Elliott Hill, Neil Saunders Organizations: Nike, Service, GlobalData Retail, Business

☆ Nike's new CEO can't rest on retro styles and must innovate to turn the company around, analyst says
▼ + stars: | 2024-09-20 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +1 min

Nike is naming Elliott Hill, a company veteran of more than 30 years, as its new CEO. In the past few years, Nike relied too much on recycling old styles, an analyst told BI. Go to newsletter preferences Thanks for signing up! The company announced on Thursday that its CEO of four years, John Donahoe, will retire and be replaced by Elliott Hill, a company veteran of more than 30 years. Hill joined the company as an intern in 1988 and left in 2020 as the president of Nike's consumer and marketplace division.

Persons: Elliott Hill, —, John Donahoe, Hill Organizations: Nike, Service, Business

☆ How to take care of leather
▼ + stars: | 2024-09-19 | by ( Bethany Heitman | Bethany Heitman Is A Contributing Editor At Nbc Select. | ) www.nbcnews.com time to read: +9 min

According to textile and cleaning experts we spoke with, taking care of leather goes beyond simply wiping it down occasionally. To help you with your leather pieces, we got advice on how to best care for your leather and insight on what damages it and how to use a leather conditioner. | How to take care of your leather | How to use a leather conditioner | 5 highly rated leather conditioners | Why trust NBC Select? How to take care of your leatherThe good news: Taking care of leather is relatively easy. This non-toxic leather conditioner is free of harsh solvents and silicone and can be used on all leather items.

Persons: ”, Simon Elliott, you’ll, Elliott, Salvador Villarreal, Salvador, Bethany Heitman, TikTok Organizations: NBC, ., Clifton, Salvador Villarreal, Facebook, Twitter Locations: San Diego , California

☆ Stocks making the biggest moves after hours: Nike, FedEx, Lennar and more
▼ + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines in extended trading: Nike — Shares soared 10%. Nike veteran Elliott Hill, who had been at the company for 32 years before retiring in 2020, will take the helm. FedEx reported adjusted earnings per share of $3.60 on revenue of $21.58 billion, while analysts polled by LSEG were looking for $4.76 per share in earnings and $21.93 billion of revenue. MillerKnoll reported adjusted earnings per share of 36 cents on revenue of $861.5 million. Lennar reported earnings of $4.26 per share on revenue of $9.42 billion.

Persons: John Donahoe, Elliott Hill, LSEG, MillerKnoll, Lennar, Chewy, Buddy Chester, — Organizations: Nike —, Nike, FedEx —, FedEx, FactSet, Buddy Chester Sub LLC, BC Partners

☆ Nike is getting a new CEO as struggles mount
▼ + stars: | 2024-09-19 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Nike, struggling from rising competition and its own strategy mistakes, is making a major shakeup. The athletic giant announced Thursday that CEO John Donahoe will retire next month and will be replaced by Elliott Hill, a veteran former Nike executive. Nike’s stock rose 9% during after-hours trading Thursday, a sign Wall Street was eager for a CEO change. Nike’s stock has dropped 24% so far this year. But the change hurt Nike’s sales.

Persons: John Donahoe, Elliott Hill, “, ” Neil Saunders Organizations: New, New York CNN, Nike, Dick’s Sporting Goods, “ Nike, GlobalData Locations: New York

John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024. Nike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of retirement to take the helm of the sneaker giant. Donahoe, who has been Nike's CEO since Jan. 2020, will retire from his position on Oct. 13. But on Thursday, Knight said in a statement that he is excited to welcome Hill back to the team. We've got a lot of work to do but I'm looking forward to seeing Nike back on its pace."

Persons: John Donahoe, Elliott Hill, Elliott, Nike's, Mark Parker, Donahoe, Phil Knight, Knight, We've Organizations: Nike, Allen, Co, Sun Valley Media, Technology Conference Locations: Sun Valley , Idaho, U.S, China

☆ Nike is bringing back a long-time exec as CEO — and he could be what the sportswear brand needs
▼ + stars: | 2024-09-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Nike just appointed a new CEO who came out of retirement to take the job. Elliott Hill will take over from John Donahoe in October, Nike said. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The sneaker maker announced that Elliott Hill will be its next president and CEO on Thursday after the stock market closed.

Persons: Elliott Hill, John Donahoe, —, he's, Elliott Organizations: Nike, Service, Business

☆ Amazon calls workers back 5 days a week—other companies may be 'right behind them,' expert says
▼ + stars: | 2024-09-18 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

The decision marks a significant shift from Amazon's earlier policy, which required employees to badge in three days a week. Following the announcement, anxious workers have flooded LinkedIn and X feeds with posts wondering if their companies would be next to get rid of flexible work arrangements. Just one-third (33%) of U.S. companies require employees to come to the office five days a week, according to recent data from Flex Index, a platform that tracks companies' flexible work policies. Under 10% of tech companies with more than 1,000 employees have such a requirement. "We might see other smaller tech companies follow Amazon's lead, but most will continue sticking to some kind of hybrid arrangement," he says.

Persons: Andy Jassy, Jassy, we've, Dan Kaplan, haven't, Brian Elliott, hasn't, Kaplan, Elliott, we'll Organizations: Amazon.com Inc, Amazon, Citigroup, Walmart, UPS, Kastle Systems, Flex, Workers, Employees Locations: Seattle , Washington, lockstep, U.S

☆ How to take care of suede
▼ + stars: | 2024-09-17 | by ( Bethany Heitman | Bethany Heitman Is A Contributing Editor At Nbc Select. | ) www.nbcnews.com time to read: +6 min

Experts say that taking care of suede is easier than you might think — as long as you know what to do. SKIP AHEAD How to protect suede | How to clean suede | When to take your suede to a professional cleanerHow to protect suedeThe first step to caring for suede is to learn how to protect it. Suede protector sprays can easily be found at retailers like Amazon, Walmart and Target and must be reapplied regularly to maintain effectiveness. Brushing suede is good for maintenance, but if you spot a stain on your suede, you’ll need to go a step further. Best suede brushesBest suede erasersWhen to take your suede to a professionalOops — you got caught in a rainstorm with your suede boots on or spilled a cup of coffee on your favorite suede armchair.

Persons: suede, it’s, Eric Neuner, Suede, ”, Simon Elliott, They’re, Elliott, Salvador Villarreal, “, Salvador, Bethany Heitman, TikTok Organizations: suede, Walmart, Target, NBC, Clifton, Salvador Villarreal, Facebook, Twitter Locations: San Diego , California

Pop star Demi Lovato is asking her fellow former child stars a tough question: Is the price of fame worth your childhood? In “Child Star,” which debuted Tuesday on Hulu, Lovato interviews fellow celebrities who grew up in the limelight about the highs and lows of fame at a young age. “Child Star” also promises an “intimate look” at child stardom.” Here’s what the actors said about how fame affected them. She also said the amount of work child actors get can depend on how “easy” children and their parents appear. They created a podcast called “Dear Hollywood” analyzing the effect of fame on child development.

Persons: Demi Lovato, Lovato, Drew Barrymore, Christina Ricci, Kenan Thompson, JoJo Siwa, Alyson Stoner, Dan Schneider’s, ”, Nicola Marsh, “ Barney, ” —, Rock ”, Sonny, ” Lovato, “, Demi Lovato’s, Disney Lovato, Nobody, Stoner, Symoné, Thompson, ’ Thompson, Burger, “ Kenan, Kel, “ It’s, ” Thompson, didn’t, Ricci, “ Casper ”, ” Ricci, Cher, Barrymore, “ E.T, Steven Spielberg, ” Barrymore, ” Stoner, Missy Elliott’s, Zack, Cody, Phineas, Ferb, Raven, They’re, ” Siwa, Siwa, JoJo Organizations: Hulu, Kids, Nickelodeon, Apple, Showtime, Disney, Rock, Disney Channel, Protection, “, Black Locations: Europe, Omaha , Nebraska

Search resuls for: "Elliott"

25 mentions found